WK Kellogg Co (NYSE:KLG - Get Free Report)'s stock price fell 8.6% during mid-day trading on Wednesday . The stock traded as low as $15.94 and last traded at $16.00. 216,692 shares changed hands during trading, a decline of 70% from the average session volume of 713,945 shares. The stock had previously closed at $17.50.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of WK Kellogg from $16.00 to $19.00 and gave the company an "underweight" rating in a research note on Monday, November 11th. TD Cowen lowered shares of WK Kellogg from a "hold" rating to a "sell" rating and lowered their price target for the company from $18.00 to $16.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, WK Kellogg presently has an average rating of "Reduce" and an average target price of $18.57.
View Our Latest Stock Analysis on KLG
WK Kellogg Price Performance
The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 20.91 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.34 and a debt-to-equity ratio of 1.49. The company's 50 day simple moving average is $18.72 and its 200-day simple moving average is $17.72.
WK Kellogg (NYSE:KLG - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. WK Kellogg had a return on equity of 33.41% and a net margin of 2.50%. The business had revenue of $689.00 million for the quarter, compared to the consensus estimate of $674.10 million. During the same period last year, the business posted $0.49 EPS. The company's revenue was down .4% on a year-over-year basis. On average, equities research analysts predict that WK Kellogg Co will post 1.49 earnings per share for the current fiscal year.
WK Kellogg Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, November 29th. WK Kellogg's dividend payout ratio (DPR) is 82.05%.
Insider Buying and Selling at WK Kellogg
In other WK Kellogg news, Director G Zachary Gund purchased 65,000 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $17.76 per share, for a total transaction of $1,154,400.00. Following the purchase, the director now directly owns 195,000 shares in the company, valued at $3,463,200. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors increased its position in WK Kellogg by 12,352.1% during the third quarter. Captrust Financial Advisors now owns 1,516,417 shares of the company's stock worth $25,946,000 after acquiring an additional 1,504,239 shares during the period. AQR Capital Management LLC raised its position in WK Kellogg by 579.1% in the second quarter. AQR Capital Management LLC now owns 1,403,854 shares of the company's stock worth $23,107,000 after purchasing an additional 1,197,133 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in WK Kellogg by 64.4% during the second quarter. Jupiter Asset Management Ltd. now owns 873,047 shares of the company's stock worth $14,370,000 after purchasing an additional 341,939 shares during the period. Renaissance Technologies LLC boosted its stake in WK Kellogg by 124.5% in the 2nd quarter. Renaissance Technologies LLC now owns 538,600 shares of the company's stock valued at $8,865,000 after buying an additional 298,700 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of WK Kellogg by 563.8% in the 3rd quarter. Verition Fund Management LLC now owns 333,321 shares of the company's stock valued at $5,703,000 after purchasing an additional 283,104 shares in the last quarter. Institutional investors and hedge funds own 95.74% of the company's stock.
About WK Kellogg
(
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WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.
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